Silverlake Wealth Management LLC Grows Position in Duke Energy Co. (NYSE:DUK)

Silverlake Wealth Management LLC lifted its holdings in Duke Energy Co. (NYSE:DUK) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,942 shares of the utilities provider’s stock after buying an additional 658 shares during the period. Silverlake Wealth Management LLC’s holdings in Duke Energy were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in shares of Duke Energy in the first quarter valued at approximately $25,000. Fortitude Family Office LLC increased its stake in shares of Duke Energy by 69.6% in the 2nd quarter. Fortitude Family Office LLC now owns 290 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 119 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Duke Energy during the 2nd quarter worth $30,000. Riverview Trust Co purchased a new stake in shares of Duke Energy in the first quarter valued at about $30,000. Finally, Sachetta LLC increased its position in Duke Energy by 41.9% during the second quarter. Sachetta LLC now owns 325 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 96 shares during the last quarter. 65.31% of the stock is currently owned by institutional investors and hedge funds.

Duke Energy Stock Up 0.9 %

Shares of DUK traded up $1.05 during midday trading on Friday, hitting $114.17. The company had a trading volume of 3,406,690 shares, compared to its average volume of 3,037,912. The company’s 50-day simple moving average is $114.38 and its 200-day simple moving average is $105.88. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.53 and a current ratio of 0.81. Duke Energy Co. has a 1 year low of $85.79 and a 1 year high of $118.31. The firm has a market capitalization of $88.16 billion, a P/E ratio of 21.03, a P/E/G ratio of 3.06 and a beta of 0.46.

Duke Energy (NYSE:DUK) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $6.84 billion. Duke Energy had a net margin of 14.29% and a return on equity of 9.71%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, sell-side analysts expect that Duke Energy Co. will post 5.97 EPS for the current year.

Duke Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $1.045 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.66%. Duke Energy’s payout ratio is currently 76.98%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DUK. BMO Capital Markets increased their price target on shares of Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Wells Fargo & Company upped their price target on Duke Energy from $110.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI raised their price objective on Duke Energy from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Scotiabank upped their target price on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Bank of America lifted their price target on shares of Duke Energy from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.15.

Insider Buying and Selling

In other Duke Energy news, EVP Louis E. Renjel sold 540 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $113.64, for a total value of $61,365.60. Following the transaction, the executive vice president now directly owns 19,884 shares in the company, valued at $2,259,617.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

Duke Energy Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.